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Inflation Is Too Low? Are You Kidding Us Bernanke?

Discussion in 'Political Discussion' started by Real World, Jul 13, 2013.

  1. Real World

    Real World Moderator Staff Member

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    Like some of us have been saying for years about government data. It's manipulated. The formula used to calculate inflation has been changed over 20 times since 1978. Just consider the fact that the rate does not include such items as food and energy. Um, yeah, only the two very things the average person uses the most of, and can't live without.

    So, how's your ipad taste? I like mine with fresh ground pepper, and a hint of lemon.



    Inflation Is Too Low? Are You Kidding Us Bernanke?

    Michael Snyder - The Economic Collapse blog

    Federal Reserve Chairman Ben Bernanke said this week that inflation in the United States needs to be higher. Yes, he actually came right out and said that. It almost seems as if Bernanke is trying to purposely hurt the middle class. On Wednesday, Bernanke told the press that "both sides of our mandate are saying we need to be more accommodative".

    Of course he was referring to the Fed's dual mandate to keep unemployment and inflation low, but Bernanke has a very unique interpretation of that mandate. According to Bernanke, inflation in the U.S. is now "too low". The official inflation rate is currently sitting at about 1 percent, and Bernanke insists that such a low rate of inflation is not good for the economy. He would prefer that the rate of inflation be up around 2 percent, and he is hoping that more "monetary accommodation" will help push inflation up and the unemployment rate down.

    But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.

    If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.


    Inflation Is Too Low? Are You Kidding Us Bernanke?
  2. Real World

    Real World Moderator Staff Member

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    Here's a chart that's pretty easy to understand.


    [​IMG]
  3. Real World

    Real World Moderator Staff Member

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    Some factoids for everyone.


    The following are 15 signs that the quality of jobs in America is going downhill really fast...

    #1 The number of part-time workers in the United States has just hit a brand new all-time high, but the number of full-time workers is still nearly 6 million below the old record that was set back in 2007.

    #2 In America today, only 47 percent of adults have a full-time job.

    #3 Even though the U.S. economy created nearly 200,000 jobs in June, the number of full-time jobs actually decreased.

    #4 There are now 2.7 million temp workers in the United States - a new all-time high.

    #5 One out of every ten jobs in the United States is now filled through a temp agency.

    #6 The U.S. economy has actually lost manufacturing jobs for four consecutive months.

    #7 The official unemployment rate has been at 7.5 percent or higher for 54 months in a row. That is the longest stretch in U.S. history.

    #8 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

    #9 At this point, one out of every four American workers has a job that pays $10 an hour or less.

    #10 High paying manufacturing jobs continue to be shipped overseas. Sadly, there are fewer Americans employed in manufacturing now than there was in 1950 even though the population of the country has more than doubled since then.

    #11 Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.

    #12 The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

    #13 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.

    #14 At this point, an astounding 53 percent of all American workers make less than $30,000 a year.

    #15 According to a study that was released by the Center for Economic and Policy Research, only 24.6 percent of all jobs in the United States qualify as "good jobs" at this point. In a previous article, I detailed the three criteria that they used to define what a "good job" is….

  4. woolster22

    woolster22 Rookie

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    Re: Re: Inflation Is Too Low? Are You Kidding Us Bernanke?

    Frightening, but not surprising. My wife and I are comfortable enough. Buying a house, trying to scratch together for a second car, etc. In any case, I apologize for the rant in advance.

    You think the pols getting paid off by the corporate big wigs care about this? The dems pretend to, then go passing a blank check to the health care industry (govt required insurance). Sure, plenty of people will essentially be handed benefits, but I know I can't afford any more of my check going to some garbage program to give the unemployed/welfare moms/poor/"disabled" a lower middle class experience.

    Sure there are people out there that truelly deserve the help given and do actually need it. But there are just as many who have no claim to a penny of anything I bring home.

    The burden placed on society for the betterment of the "needy" is or of control. The corporate take over of our economy has lead to the "needy" growing at an astounding rate.

    Dunkin donuts. How many mom and pop stores have they put out of business? You think the mom and pops were paying twenty people minimum wage at part time hours?

    A few legislators have finally realized that banks to big to fail aren't a good idea, but how about corporations too big to fail? Verizon? Comcast? What would happen if they went under tomorrow? Shaws? Walmart? Mosanto? Free enterprise at the local level is one thing. The little guy had a legitimate shot at building something out of nothing. Now? Corporate retailers of all types with purchase power to dictate terms to the corporate wholesalers. Guess where they make up the margins.
    Meanwhile all these places pay the majority of their staff peanuts, with high turn over rates, while the top execs walk away with enough cash each year in the form of a bonus to leave a family comfortable for two generations.
  5. PatriotsReign

    PatriotsReign Rookie

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    Look RW...it's clear to all of us here that Bernanke, Obama and his cabinet, congress....heck, pretty much everyone in our gov't is and has been lying their arses off about the state of our economy.

    I was happy to see our Massachusetts super liberal senate voted down Patrick's call for higher taxes and higher fees to (mainly) fund transportation for city folk. The entire state should not be forced to fund the MBTA. Especially considering the reason it's under-funded is because of the bloated pensions MBTA employees get.

    Guess what Duval? If you can't afford to pay their pension, then make they accept cuts! It aint our problem bro!
  6. Real World

    Real World Moderator Staff Member

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    The MBTA already gets 20% of the state sales tax revenue. So whether we ride or not, whether you live in the Berkshires or Springfield, you're still being forced to pay for the ineptly run MBTA. GROSS.
  7. PatriotsReign

    PatriotsReign Rookie

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    That and I really don't care how much "city-folk" have to pay for public transportation.
  8. STFarmy

    STFarmy Rookie

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    Bernanke really is unbelievable. Incidentally, over the past few days, I've heard people talking about the economic "recovery" and get funny looks when I giggle. I even saw a network news station suggesting it. I'm sorry, that's just not the case. That's not an anti-Obama statement, that's just how it is. Our past few decades of irresponsible economic practices will not be solved in so short a time.
  9. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    It's a little frustrating to be howled down as a partisan hack for expressing skepticism about the economic condition we're in right now. The facts are not great, unless you have blue chip stocks.

    STFarmy is right. This isn't an Obama thing. This is an American problem that goes back decades. The inertia carrying us in the wrong direction is paralyzing us. It's going to be a long road to ruin or true economic recovery. I suspect that we had better start getting used to the new realities. The halcyon days are over and we need to, as consumers, start reevaluating our spending habits.
  10. patsinthesnow

    patsinthesnow PatsFans.com Supporter PatsFans.com Supporter

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    #87 Jersey

    Media: "Whos cares about the terrible economy or the government spying on us, let's cover ONE trial to distract everyone for three friggin months!" :mad:

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